On June 17, according to documents disclosed by the Hong Kong Stock Exchange, Cao Guoqiang increased his shareholding on June 13 at an average price of HKD 7.5967 per share.$CITIC BANK (00998.HK)$China CITIC Securities Limited, a affiliated consortium, increased their shareholding by 39,000 shares of common stock of China CITIC Bank Corporation at a value of approximately HKD 296,300. After the increase, Cao Guoqiang currently holds 39,000 shares of the affiliated consortium's stock, accounting for 0.00% of the total shares held.
What is equity disclosure?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the company's shares) must disclose their shareholding in the listed company. Directors and senior executives of the listed company must disclose their shareholding and equity certificate rights in the listed company and any related companies.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) individuals who control or have the ability to control the shareholding of the listed company and (2) individuals who may benefit from transactions involving entities related to the listed company.